Australian Plant Proteins Acquired by My Co
Melbourne, Australia – March 27th, 2025
My Co, the investment vehicle of the Paule Family Office, proudly announces the acquisition of Australian Plant Proteins (APP), a pioneering leader in plant-based protein production. This strategic move will support local farmers, protect jobs, and reinforce Australia’s status in the global plant-based food market.
APP is renowned for its patented fractionation technology, producing high-quality protein isolates from faba beans, yellow pea, lentils, mung beans and other pulses through a unique extraction process, differentiating it from other plant protein manufacturers worldwide. The company’s innovative contributions were recently recognised with the esteemed *Best Ingredient* award at the 2024 Hive Awards. With My Co at the helm, APP is set for a promising resurgence.
Vicky Pappas, CEO of My Co, expressed her optimism about the acquisition: “The potential of APP is immense. Its game-changing technology aligns with our vision of fostering innovation in the food sector and contributes to a sustainable future. We are excited about expanding APP’s capabilities and enhancing its presence in both domestic and international markets.” Pappas emphasised the strategic opportunities ahead: “This acquisition opens doors to numerous possibilities for APP. With our proven track record in food manufacturing and expertise in successfully scaling brands like BioCheese and Meliora, we are eager to leverage our resources and expertise to support APP’s growth. Together, we will meet the increasing consumer demand for nutritious and sustainable food options.”
Phil McFarlane, co-founder of APP adds “We’re proud to contribute to a cleaner food system without compromising on quality. What sets APP apart is its unique extraction process that differentiates it from other plant protein manufactures worldwide. Unlike conventional methods that often rely on harsh chemicals or enzymes, APP extracts protein from pulses using a clean, non-solvent method, resulting in a highly functional protein isolate with over 85% protein content. Our patented technology ensures our protein isolates are not only of the highest quality but also more sustainable and environmentally friendly,” McFarlane said. “We are thrilled about the potential this acquisition brings, not just for APP and our current evolving customer base, but for Australia’s entire plant protein industry,” McFarlane stated. “Our focus remains on delivering high-quality plant-based ingredients sourced from Australian-grown pulses while creating valuable employment opportunities in the Horsham area.” McFarlane will continue with the company as the CEO, ensuring a seamless transition and the preservation of APP’s vision.
As part of My Co’s commitment to innovation, integrating APP into its portfolio companies will enhance operational efficiencies and marketing strategies, paving the way for new product development that meets evolving consumer tastes. In addition to enhancing production capabilities, APP is set to embark on several key projects, including establishing a fibre and starch processing facility. These initiatives aim to increase production capacity and diversify product offerings in the rapidly growing health food market. Operating a state-of-the-art facility in regional Victoria, APP has been a vital supplier to the growing demand for plant-based alternatives, projected to reach $27.9 billion by 2025. My Co’s investment positions APP to capitalise on this growth while promoting environmentally friendly practices that resonate with today’s conscious consumers.
The acquisition not only secures APP’s future but also strengthens Australia’s agricultural value chain, promoting local sourcing and sustainability. As Pappas concluded, “This is more than just an acquisition; it’s about creating a sustainable future for food production. By acquiring APP, we are shaping the future of plant-based innovation in Australia and beyond.”
About My Co
My Co, the investment vehicle for the Paule Family Office, focuses on FABtech (Food, Agri & Bio) startups. It supports early-stage businesses with a hands-on approach, leveraging extensive entrepreneurial experience to build operational frameworks and commercialize products. Known for being a first mover, My Co excels at creating successful brands. The company targets seed and Series A stage startups with transformational technologies and strong management teams. By fostering scalable businesses, My Co contributes to a more sustainable future in the FABtech space, emphasizing sustainable and renewable ideas.
About Australian Plant Proteins (APP)
Australian Plant Proteins (APP), established in 2020, is the Southern Hemisphere's sole producer of pulse protein isolates. Operating from a Horsham facility, APP utilizes proprietary membrane extraction technology to create high-quality protein isolates (80%+ protein content) from pulses. These isolates offer superior functional properties, including better fortification, improved solubility, neutral flavour, and enhanced texture. APP's products enable food and beverage manufacturers to tailor plant-based alternatives, addressing sensory differences compared to traditional protein sources. The company's unique extraction process delivers best-in-class technologies and consistent, highly functional isolates at scale, meeting diverse customer needs in the growing plant-based protein market.
